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This entry on the depositor's book, -with the attestations of the said officer, 
shall be conclusive evidence of the claim of the depositor to the repayment of 
such deposit, with interest thereon, on demand made by him.
SEC.  That the officers engaged in the receipt or payment of savings de-
posits shall not disclose the name of any depositor nor the amount deposited or 
withdrawn, except to the postmaster or Honolulu, or to such officers as may 
be appointed by him to carry this act into operation.
SEC. - . That the books of the Hawaiian postal savings banks shall be 
opened, and the postmasters of the various designated money-order offices 
shall receive all deposits offered on or after the passage of this act, and credit 
the same in the pass book of each depositor, and make reports of the same to 
the postmaster of Honolulu, as may be required under the rules and regulations 
to be adopted by him.
SEC.  That married women and minors may in their own right make de-posits 
and receive payment, giving valid receipts therefore: Provided, how-ever. 
That minors under the age of 15 years can only give a valid receipt there for 
upon the countersigning of the same by their natural or legal guardian. SEC.  - 
. That in case any depositor shall die leaving a sum of money on de-posit in the 
postal savings banks not exceeding $100, and letters of administration or notice 
of existence of a will be not produced to the postmaster of Honolulu within a 
period of sixty days after the death of the depositor, or in case of disputes of 
anyone claiming to be entitled to any money deposited in the postal savings 
banks under $100, as assignee, executor, administrator, or next of kin to the 
depositor, the matter may be referred in writing to a justice of the supreme 
court, whose award or order in writing shall be binding and conclusive on all 
parties to all intents and purposes, without any appeal. 

SEC.  In case any 
depositor shall die leaving any sum of money on deposit in the postal savings 
bank exceeding 1100 the same shall only be paid to the executor or 
administrator on the production of letters of administration.
SEC.  That if a depositor become insane, having on deposit not exceeding 
$100, the postmaster of Honolulu may, in his discretion, authorize payment 
from time to time out of the funds of such depositor to any person having 
charge of him.
SEC.  That on demand, by notice upon the postmaster of Honolulu, in 
such form as may be prescribed in the regulations under this act, by a depositor, 
or party legally authorized to claim on account of a depositor, for repayment of 
any deposit or part thereof, such depositor shall be absolutely entitled to 
payment of any sum not exceeding $100 which may be due him within 
thirty days after giving such notice, and the officer making such re-payments 
shall enter the same upon the book of the depositor and attest the entry by his 
signature: Provided, however. That payments may be made to depositors, in 
the discretion of the postmaster of Honolulu, on demand, or at any time prior to 
the periods mentioned in this section.
SEC.  That the rate of interest payable on deposits made under this act 
shall be 2 per cent per annum on deposits amounting to $500 and under in any 
one account; but no interest shall be paid on any deposit exceeding $500 in 
any one account. Interest shall not be calculated on any amount less than $5 
or some multiple thereof, and shall not commence until the first day of the 
calendar month next following the day of deposit, and shall cease on the first 
day of the calendar month in which such deposit is withdrawn. All deposits not 
exceeding $1,000 in any one account that shall be on deposit three months prior 
to July 1 of each year shall not be assessed for taxes and shall be free from all 
government taxation.
SEC.  That interest on all deposits shall be calculated on the 31st day of 
December of every year, and shall be added to and become a part of the principal 
money; and the postmaster of Honolulu shall on that day of each year furnish 
the governor of said Territory and the Treasurer and the Postmaster-General of 
the United States with a sworn statement of the amount thereof, with interest, 
calculated and actually passed to the credit of the depositor on the books of the 
postal-savings bank department.
SEC.  That moneys received by the postmaster of Honolulu as deposits in 
the Hawaiian postal savings bank in excess of $2,500 shall be paid into the 
treasury; and the treasurer shall open in the books of the treasury an ac-
count to be called the "Hawaiian postal savings," to which he shall credit all 
deposits made on this account; and ho shall debit such sums as may be 
withdrawn or warrants issued by the postmaster of Honolulu for payment of 
sums due to depositors. All moneys received to this account, as well as the 
reserve in the hands of the postmaster of Honolulu as or officio manager of the 
Hawaiian postal sayings bank, shall be deemed and treated as a part of the 
public debt, for which the Treasury is responsible to the depositors; and the 
treasury account shall, on the 1st day of January of each year, be credited as 
of that day with the interest actually allowed and paid to depositors under 
this act for the previous year ending December 31.
SEC.  That there shall be at all times retained in the treasury, as a special 
reserve to meet the demands of the depositors in said postal sayings bank, not 
less than 10 per cent of the deposits in such bank on all deposits up to an 
aggregate of $500,000.
SEC.  That if at any time the moneys paid into the treasury on account of 
the Hawaiian postal savings bank, and the interest-accrued thereon, shall be 
insufficient to meet the lawful claims of the depositors, it shall be the duty of the 
Treasurer to pay the amount of such deficiency out of any moneys not 
otherwise appropriated, and report said amount to the governor and to the 
next ensuing legislature.
SEC.  That an annual account of all deposits received and paid out under 
authority of this act, and the expenses Incurred during the year ending De-
cember 31, together with a statement of the total amount due at the close of 
the year to all depositors, shall be made to the postmaster of Honolulu and to 
the Postmaster-General of the United States, and also to the governor of the 
Territory of Hawaii, who shall lay the same before the legislature of Hawaii 
at its next ensuing session.
SEC.  That the treasurer, with the approval of the governor, is hereby 
authorized to issue coupon bonds of the Territory of Hawaii up to the amount of 
$1,000,000, to be styled the postal savings bank loan, to be issued to 
depositors in the Hawaiian postal savings bank who may apply for the same, 
to be payable in periods not less than five nor more than twenty years, at the 
option of the government, and to bear interest at a rate not exceeding 2 per 
cent per annum, to be paid semiannually. Any such depositor with an 
aggregate credit on his pass cook of not less than $200, which shall be on de-
posit at least three months, who shall apply to the postmaster of Honolulu for 
such bonds shall be entitled to an issue of an amount thereof in sums of $100 
or multiples thereof, which amount shall be immediately withdrawn from the 
said depositor's account with the postal savings bank.
SEC.  That the postmaster of Honolulu, with the consent of the 
governor, may from time to time, as he shall see occasion, make and alter 
all needful regulations for carrying this act into execution, and. after publishing, 
such regulations so made shall be binding on the party in the subject-matter 
hereof to the same extent as if such regulations formed a part of this act; 
and the postmaster of Honolulu shall transmit to the legislature of said 
Territory, on the first day of each session, a copy of all such regulations 
made and enforced, and the same shall continue in force unless disapproved 
of or changed by the legislative authorities of the Territory.
SEC.  That the passage of this act shall in no way change the status of 
the deposits now in the postal savings bank, either principal or Interest; and 
nothing herein contained shall be construed to mean any interference With 
such deposits, principal or interest.

Mr. BUTLER. Mr. President, there were a number of objections 
made yesterday afternoon to the amendment I then-offered, which 
proposed to keep in force the present laws of Hawaii, on the 
ground that it would not fit. The Senator from Wisconsin [Mr. 
SPOONER] wanted to know what officer would perform the 'duties of 
the minister of finance, upon whom was placed the duty of 
managing this system. The treasurer of the Territory of Hawaii is 
to perform practically the -duties that the minister of finance 
performed under the old government, and so the amendment has 
been changed to put the duties of the minister of finance upon the 
treasurer of the Territory.
Mr. SPOONER.   Will the Senator from North Carolina allow me 
to ask him a question? Mr. BUTLER.   Certainly.
Mr. SPOONER.   The amendment is quite elaborate and some-what 
involved, and I do not, perhaps, understand it.   Who is to pay the 
interest on these deposits? Mr. BUTLER.   The Territorial 
government. Mr. SPOONER.   At what rate?
Mr. BUTLER. Two per cent. I have simply changed it from 4J 
per cent to 2 per cent and modified the law only so much as is 
necessary to make it fit into this bill.
Mr. TELLER. I am like the Senator from Wisconsin. I could not 
very well follow the reading of the amendment. What will the 
Territory or whatever this government may be do with this 
money? It is to nay interest on it. What use is it to make of it? Is 
there any provision for that?
Mr. BUTLER. There is a provision that whenever the amount 
credited to a depositor becomes so much, it shall be turned into the 
Mr. SPOONER.   What treasury?
Mr. BUTLER.   The Territorial treasury.   It is to be turned over to 
the treasurer appointed under this bill. Mr. TELLER.   What use 
will he make of it? Mr. BUTLER.   Just such use as Great Britain, 
France, Ger-many, and every other country makes of it when 
money under similar provisions is turned into the treasury; when 
the amount to the credit of the depositor becomes so much and he 
does not desire to withdraw it. Mr. ALLISON.   Spend it?
Mr. BUTLER. Spend it or use it in any way they see fit. Mr. 
TELLER. The Senator will pardon me. It seems to ma there 
comes in a great difficulty. The Government of the United States 
will of course have to guarantee, if we enact this into law, for it 
would be indecent if we did not, that the Territorial government 
would pay these depositors. I am myself very much in favor of a 
national postal savings bank and I have been for some years, and I 
shall be delighted to join the Senator from North Carolina in the 
effort that he says he is going to make to get a national postal 
savings bank. But I see the great difficulty in trying to apply this 
salutary and beneficial principle of government to this Territory. 
When the Government of the United States takes money from a 
depositor and it goes into the general Treasury, there is no 
question of our need for the money. We can take it and pay our 
debts, or we can take it and pay the expenses that are1 going to 
come on us after a little, which otherwise would compel us to borrow 
by the sale of bonds.
We have abundant ways of getting rid of it, while the Territory 
of Hawaii, it seems to me, ought not to have any expenditures of 
this kind. Their current expenses ought to be raised by current 
taxation. We pay their debt, so that there is no debt to be paid. It 
seems to me it will be very difficult for us to apply to Hawaii. I 
shall have to vote against the Senator's proposition, but I want it 
distinctly understood that I do not vote against it because I am 
opposed to postal savings banks.
Mr. BUTLER. If the Senator will permit me, we do not have to 
pay the postal savings bank debt under the amendment, be-cause 
the Territory of Hawaii - the Senator from Alabama him-self 
admitted that the officers are in favor of it - will be glad to 
assume the debt and keep the system instead of us having the debt to 
pay. We will not pay it, but they will assume the debt and be glad 
to do it.
Mr. TELLER. What I meant to say was our assuming it if they 
failed to pay. If there were any trouble over there, we should be in 
honor bound to pay it.
Mr. BUTLER. Is not that true of every other obligation they 
may incur?
Mr. TELLER. Under the general provisions of law, which the 
Senator from North Carolina will endeavor to secure in this direction, 
and I hope he may secure them, if the Hawaiian Islands be-come a 
part of the United States to the extent that they are liable to be 
under this law, they will be entitled to the full benefit of the 
national postal savings banks.
Mr. BUTLER. Of course I understand that when we establish a 
national postal savings bank system - and I am delighted to hear the 
Senator from Colorado say that he favors it - this will be re-pealed 
the moment we adopt it. It would extend to them as it

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